First Indian Tax Amnesty Since 1997 Seeks To Boost Compliance: Foreign Media

March 1, 2016

Mar 1: India's Finance Minister Arun Jaitley offered residents with undisclosed income a one-time amnesty from prosecution as pressure mounted on Prime Minister Narendra Modi to deliver on his poll promise of unearthing black money.

jaitleyThe window for declaring assets will open on June 1 for four months, Jaitley said in his budget speech on Monday. Taxpayers can get immunity from prosecution by paying levies of 45 percent, including a penalty and surcharge, on the undisclosed income within two months of the declaration. That compares with a maximum 35 percent income tax.

The first tax amnesty on local assets in almost two decades may lure evaders to take up Jaitley's offer and potentially bring more people into the tax net, according to Mukesh Butani, a New Delhi-based managing partner at BMR Legal. In 1997, the government raised 100 billion rupees ($1.5 billion) with such an offer. A similar pardon for illicit assets overseas, locally known as black money, raised just was 0.07 percent of the estimated $510 billion of illegal outflows in the nine years to 2013.

"With effective tax rates anyway being around 35 percent, this seems like a fair deal," Butani said by phone. "Black Money law last year was targeting the overseas assets while the amnesty scheme offered this year is for domestic assets, so they are looking at different categories."

India collected 40 billion rupees in 2013 under a service tax disclosure program. The amnesty last year on money stashed abroad yielded only about 25 billion rupees. A report on illicit financial flows from emerging markets by Global Financial Integrity said $510 billion of funds were illegally moved overseas from India.

"Our government is fully committed to remove black money from the economy," Jaitley said in parliament. "Having given one opportunity for evaded income to be declared once, we would then like to focus all our resources for bringing people with black money to books."

Clamping down on black money has long been a hot topic in India.

"If we bring back those rupees then each and every poor man in India will get 1.5 million to 2 million rupees, for free," Modi said at a rally in January 2014, before he won India's largest lower-house majority in 30 years. A year later, Amit Shah, president of Modi's ruling party, said the remark shouldn't be taken literally.

Comments

IBRAHIM.HUSSAIN
 - 
Tuesday, 1 Mar 2016

Where is poll promised black money retrieved from foreign banks to every family of Indian citizen. Modi and his Hench ministers coming up with new ideas just to silence the people anger on poll promises. We have not heard anything about SC appointed SIT on the black money?

All promises and new ideas are blunder just stay in power?????

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 24,2020

New Delhi, Feb 24: The shared values between India and the US are "discrimination, bigotry, and hostility towards refugees and asylum seekers", Amnesty International USA said in a joint statement with Amnesty International India ahead of US President Donald Trump's visit to India on Monday.

Trump, accompanied by his wife Melania, daughter Ivanka and son-in-law Jared Kushner as well as senior officials of his administration, landed in Ahmedabad on the first leg of his two-day visit to India.

"Anti-Muslim sentiment permeates the policies of both U.S. and Indian leaders. For decades, the U.S.-India relationship was anchored by claims of shared values of human rights and human dignity. Now, those shared values are discrimination, bigotry, and hostility towards refugees and asylum seekers,” Margaret Huang, Amnesty International USA’s executive director, was quoted as saying in the statement.

It was a reference to the anti-CAA protests in India, the internet lockdown in Jammu and Kashmir and the Muslim ban expansion by President Trump affecting Nigeria, Eritrea, Myanmar, Kyrgyzstan, Sudan and Tanzania, the statement said.

It added that Amnesty International USA’s researchers travelled to Lebanon and Jordan to conduct nearly 50 interviews with refugees that as a result of the previous version of the ban have been stranded in countries where they face restrictive policies, increasingly hostile environments, and lack the same rights as permanent residents or citizens.

The statement also came down hard on the Indian government, hitting out at the Citizenship (Amendment) Act (CAA) 2019 and saying it legitimises discrimination based on religious grounds.

It criticised statements such as “identify them (the protestors) by their clothes” or “shoot the traitors” by Prime Minister Modi and his party workers. Such remarks "peddled the narrative of fear and division that has fuelled further violence", it said.

“The internet and political lockdown in Kashmir has lasted for months and the enactment of CAA and the crackdown on protests has shown a leadership that is lacking empathy and a willingness to engage. We call on President Trump and Prime Minister Modi to work with the international community and address our concerns in their bilateral conversations,” Avinash Kumar, executive director, Amnesty International India said in the statement.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 15,2020

New Delhi, Apr 15: As the world grapples with coronavirus, researchers have found the presence of a different kind of coronavirus -- bat coronavirus (BtCoV) --in two bat species from Kerala, Himachal Pradesh, Puducherry and Tamil Nadu, according to a study by the Indian Council of Medical Research (ICMR).

There is no evidence or research to claim that these bat coronaviruses can cause disease in humans, said Dr Pragya D Yadav, Scientist at the National Institute of Virology (NIV), Pune and also the first author of study.

The study has been published in the Indian Journal of Medical Research,

Twenty-five bats of Rousettus and Pteropus species from Kerala, Himachal Pradesh, Puducherry and Tamil Nadu were found positive for BtCoV in Kerala, Himachal Pradesh, Puducherry and Tamil Nadu.

"These bat coronaviruses have no relation with SARS-CoV2 responsible for the COVID-19 pandemic," Yadav said, adding that Pteropus bat species were earlier found positive for Nipah virus in 2018 and 2019 in Kerala.

"Bats are considered to be the natural reservoir for many viruses, of which some are potential human pathogens. In India, an association of Pteropus medius bats with the Nipah virus was reported in the past. It is suspected that the recently emerged severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) also has its association with bats," the objective of the study titled 'Detection of coronaviruses in Pteropus and Rousettus species of bats from different states of India' stated.

"In the present scenario of changing demography and ecological manipulations, it is challenging to have checks on the encounters of bats with other animals and humans," the study stated, highlighting that the need for active and continuous surveillance remains crucial for outbreak alerts for bat-associated viral agents with epidemic potential, which would be helpful in timely interventions.

"Although CoVs in the subfamily coronavirinae do not usually produce clinical symptoms in their natural hosts (bats), accidental transmission of these viruses to humans and other animals may result in respiratory, enteric, hepatic or neurologic diseases of variable severity. It is still not understood as to why only certain CoVs can infect people," the study said.

The scientists stressed on the need of proactive surveillance of zoonotic infections in bats.

The detection and identification of such viruses from bats also recommends cross-sectional antibody surveys (human and domestic animals) in localities where the viruses have been detected.

Similarly, if the epidemiological situation demands, evidence-based surveillance should also be conducted, the study said while emphasing on the need of developing strong mechanisms for working jointly with various stakeholders such as wildlife, poultry, animal husbandry and human health departments.

"In conclusion, our study showed detection of bat CoVs in two species of Indian bats. Continuous active surveillance is required to identify the emerging novel viruses with epidemic potential," Dr Yadav said.

Elaborating on the study, Dr Yadav said throat and rectal swab samples of two bat species -- Rousettus and Pteropus -- from seven states were screened for the bat coronvirus during which the representative samples collected from Kerala, Himachal Pradesh, Puducherry and Tamil Nadu tested positive while those from Karnataka, Chandigarh, Punjab, Telengana, Gujarat and Odisha came out negative.

The reverse-transcription polymerase chain reaction (RT-PCR) tests and sequencing were used for the confirmation of the findings.

"This is an ongoing study to understand the prevalence of the Nipah virus in bats," she said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 24,2020

Kolkata, Jun 24: Trinamool Congress (TMC) MLA Tamonash Ghosh, who had tested positive for Covid-19 in May, died at a hospital here on Wednesday, party sources said.

He was 60.

The three-time MLA from the Falta assembly constituency in South 24 Parganas district was admitted to a hospital after he tested positive for the disease, they said.

He had several complications related to the heart and the kidney, the sources said.

"Very, very sad. Tamonash Ghosh, 3-time MLA from Falta & party treasurer since 1998 had to leave us today. Been with us for over 35 years, he was dedicated to the cause of the people & party. He contributed much through his social work," West Bengal Chief Minister and TMC supremo Mamata Banerjee tweeted.

"He has left a void that will be difficult to fill. On behalf of all of us, heartfelt condolences to his wife Jharna, his two daughters, friends and well-wishers," she added.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.